Mark Carney has been called before MPs to respond to allegations that the Bank of England turned a blind eye to traders who were rigging the multi- trillion-dollar currency markets.

The Treasury Committee said that it would question the Governor and other senior officials after the Bank revealed that it had suspended one employee and hired a law firm to investigate whether its staff had been involved in foreign exchange manipulation.

The Bank said that it had not found any evidence yet that its staff were involved, and it declined to identify the suspended individual.